Micron (NASDAQ:MU) shares took a header Friday morning after the company reported second-quarter results that beat analysts’ estimates and offered better-than-expected guidance.
Earnings per share came out at $1.56, adjusted vs. $1.42 expected by LSE, on revenue of $8.05 billion vs. $7.89 billion expected by LSEG
Revenue increased 38% from $5.82 billion during the same period in 2024. The memory and storage solutions company reported net income of $1.58 billion, or $1.41 per share, up from $793 million, or 71 cents per share, in the year-ago quarter.
Data center revenue tripled, the company said.
Revenue for the fiscal third quarter will be about $8.8 billion, Micron said, topping the $8.5 billion average analyst estimate, according to LSEG.
Adjusted earnings will be roughly $1.57 a share, the company said, beating the $1.47 average estimate.
Prior to Thursday’s close, Micron shares were up 22% for the year, while the NASDAQ is down more than 8%.
Micron will host its quarterly call with investors at 4:30 p.m. ET.
Based in Boise, Idaho, Micron Technology is a producer of computer memory and computer data storage including dynamic random-access memory, flash memory, and solid-state drives.
MU shares opened Friday lower $7.94, or 7.7%, to $95.06.
